Veritiv Co. (NYSE:VRTV) Expected to Announce Earnings of $3.73 Per Share

Wall Street analysts predict that Veritiv Co. (NYSE:VRTVGet Rating) will post $3.73 earnings per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv reported earnings per share of $1.28 during the same quarter last year, which would suggest a positive year over year growth rate of 191.4%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Veritiv will report full year earnings of $14.70 per share for the current year. For the next fiscal year, analysts expect that the business will report earnings of $14.60 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Veritiv.

Veritiv (NYSE:VRTVGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The basic materials company reported $3.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $1.01. Veritiv had a net margin of 2.11% and a return on equity of 25.21%. The business had revenue of $1.86 billion for the quarter. During the same period last year, the company earned $1.90 earnings per share.

VRTV has been the topic of several research analyst reports. StockNews.com started coverage on shares of Veritiv in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Zacks Investment Research raised shares of Veritiv from a “hold” rating to a “strong-buy” rating and set a $138.00 price objective on the stock in a research note on Saturday, March 5th.

VRTV opened at $138.03 on Friday. Veritiv has a one year low of $40.60 and a one year high of $158.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.92 and a quick ratio of 1.37. The company’s 50 day simple moving average is $119.60 and its 200-day simple moving average is $115.90. The stock has a market capitalization of $2.07 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 0.53 and a beta of 2.27.

In other Veritiv news, Director Stephen E. Macadam acquired 1,600 shares of Veritiv stock in a transaction on Tuesday, March 22nd. The shares were purchased at an average cost of $126.53 per share, with a total value of $202,448.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in VRTV. Marshall Wace LLP bought a new position in shares of Veritiv during the first quarter worth $341,000. Morgan Stanley boosted its position in shares of Veritiv by 187.3% during the second quarter. Morgan Stanley now owns 95,524 shares of the basic materials company’s stock worth $5,866,000 after purchasing an additional 62,270 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Veritiv by 1.2% during the third quarter. New York State Teachers Retirement System now owns 23,604 shares of the basic materials company’s stock worth $2,114,000 after purchasing an additional 275 shares in the last quarter. Harvest Investment Services LLC bought a new position in shares of Veritiv during the third quarter worth $230,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Veritiv by 176.5% during the third quarter. Janney Montgomery Scott LLC now owns 11,698 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 7,467 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Veritiv Company Profile (Get Rating)

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.

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